Govt to soften DEPB blow, sops by Oct end

The government is set to announce a slew of incentives and measures to provide relief to exporters even as the Duty Entitlement Passbook Scheme ends on Friday. The proposed measures include an increase in the interest subsidy which will act as a cushion for the exporters to tackle with the increasing cost of credit and the slowdown in the Western markets.

After sectoral reviews, we will be announcing the incentives .... You can expect them by the end of October or first week of November, commerce and industry minister Anand Sharma said after meeting with the industry-government task force on ways to revive business confidence. Expressing confidence in the proposed measures which will benefit the exporters, Sharma said the finance ministry has agreed for an interest subvention for the export credit and the RBI has been asked to notifiy it soon.